Indian stock market opens in red amid weak Asian cues, IT stocks drag
The Indian benchmark indices opened lower on Tuesday amid weak Asian cues, as selling was seen in the IT, auto, financial services and pharma sectors in the early trade
Published on May 27, 2025
By IANS
- MUMBAI — The Indian benchmark indices opened lower on Tuesday amid weak
Asian cues, as selling was seen in the IT, auto, financial services and pharma
sectors in the early trade.
-
- At around 9.28 am, Sensex was trading 747.69 points or
0.91 per cent down at 81,428.76 while the Nifty declined 204.10 point or 0.82
per cent at 24,797.05.
-
- Nifty Bank was down 366.95 points or 0.66 per cent at
55,205.05 The Nifty Midcap 100 index was trading at 57,062.60 after dropping
4.65 points or 0.01 per cent. Nifty Smallcap 100 index was at 17,744.40 after
climbing 36.60 points or 0.21 per cent.
-
- According to analysts, technically, the Nifty appears to
have regained its momentum, decisively breaking out from its consolidation zone
of 24,500-25,000.
-
- "Immediate resistance is now seen at 25,207, derived
from the 76.4 per cent Fibonacci retracement of the entire fall from 26,277 to
21,743. On the downside, 24,800 could offer immediate support for the
Nifty," said Devarsh Vakil, Head of Prime Research at HDFC Securities.
-
- A significant feature of the SIP flows during this phase
of the market is that investors are staying invested for longer time periods
than in the past. This will provide support to the market, said experts.
-
- Meanwhile, in the Sensex pack, NTPC, M&M, HCL
Tech, Eternal, Tech Mahindra, Infosys and TCS were the top losers. Only
IndusInd Bank was the top gainer.
-
- In the Asian markets, Bangkok, Seoul, China, Hong Kong
and Japan were trading in the red. Only Jakarta was trading in the green.
-
- The US stock markets were closed on Monday in honour of
Memorial Day. In the last trading session on Friday, Dow Jones in the US closed
at 41,603.07, down 256.02 points, or 0.61 per cent. The S&P 500 ended
with a loss of 39.19 points, or 0.67 per cent, at 5,802.82 and the Nasdaq
closed at 18,737.21, down 188.53 points, or 1.00 per cent.
-
- On the institutional front, foreign institutional
investors (FIIs) were net buyers as they bought equities worth 135.98 crore on
May 26, while domestic institutional investors (DIIs) purchased equities worth
1,745.72 crore.
